Summary: University of Michigan consumer confidence index improves slightly in October, above consensus expectations; views of present conditions improves, future conditions deteriorate; “improvement remains tentative”; “unambiguous bad news” regarding inflation expectations. US consumer confidence started 2020 at an elevated level but, after a few months, surveys began to reflect a growing unease with the global spread of COVID-19 and its reach into the US. Household confidence plunged in April 2020...